Everence Capital Management Inc. Cuts Position in Ameriprise Financial, Inc. (NYSE:AMP)

Everence Capital Management Inc. decreased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 65.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,540 shares of the financial services provider’s stock after selling 2,880 shares during the quarter. Everence Capital Management Inc.’s holdings in Ameriprise Financial were worth $585,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Morgan Stanley grew its holdings in shares of Ameriprise Financial by 9.0% during the fourth quarter. Morgan Stanley now owns 2,375,581 shares of the financial services provider’s stock valued at $739,686,000 after buying an additional 195,537 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Ameriprise Financial by 29.7% during the second quarter. Nuveen Asset Management LLC now owns 1,673,748 shares of the financial services provider’s stock valued at $555,952,000 after buying an additional 382,811 shares during the last quarter. Moneta Group Investment Advisors LLC grew its holdings in shares of Ameriprise Financial by 106,308.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,587,613 shares of the financial services provider’s stock valued at $494,335,000 after buying an additional 1,586,121 shares during the last quarter. Norges Bank purchased a new stake in shares of Ameriprise Financial during the fourth quarter valued at approximately $389,527,000. Finally, Invesco Ltd. grew its holdings in shares of Ameriprise Financial by 33.5% during the first quarter. Invesco Ltd. now owns 1,078,807 shares of the financial services provider’s stock valued at $324,031,000 after buying an additional 270,755 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised their target price on shares of Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. The Goldman Sachs Group raised their target price on shares of Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Raymond James assumed coverage on shares of Ameriprise Financial in a report on Thursday, March 21st. They issued a “market perform” rating on the stock. Piper Sandler raised their target price on shares of Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a report on Friday, April 5th. Finally, UBS Group raised their target price on shares of Ameriprise Financial from $440.00 to $445.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and a consensus price target of $441.00.

Insider Activity

In other news, SVP Dawn M. Brockman sold 224 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the sale, the senior vice president now directly owns 1,288 shares in the company, valued at approximately $559,159.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Dawn M. Brockman sold 224 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the sale, the senior vice president now directly owns 1,288 shares in the company, valued at approximately $559,159.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William F. Truscott sold 9,689 shares of the firm’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the sale, the chief executive officer now owns 12,126 shares in the company, valued at $4,731,807.72. The disclosure for this sale can be found here. Insiders have sold 89,161 shares of company stock worth $35,560,647 in the last three months. Company insiders own 0.96% of the company’s stock.

Ameriprise Financial Stock Up 0.2 %

AMP opened at $411.77 on Thursday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.17. Ameriprise Financial, Inc. has a 1-year low of $279.85 and a 1-year high of $440.67. The company has a market capitalization of $41.26 billion, a PE ratio of 17.37, a PEG ratio of 0.68 and a beta of 1.36. The firm’s 50 day simple moving average is $416.13 and its two-hundred day simple moving average is $376.75.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, January 25th. The financial services provider reported $7.75 EPS for the quarter, beating the consensus estimate of $7.67 by $0.08. The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.90 billion. Ameriprise Financial had a net margin of 16.27% and a return on equity of 77.39%. The company’s revenue was up 9.0% on a year-over-year basis. During the same period last year, the firm earned $6.94 EPS. As a group, equities analysts forecast that Ameriprise Financial, Inc. will post 34.43 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Friday, February 9th were given a dividend of $1.35 per share. The ex-dividend date was Thursday, February 8th. This represents a $5.40 annualized dividend and a dividend yield of 1.31%. Ameriprise Financial’s payout ratio is 22.78%.

About Ameriprise Financial

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.